India extends curbs on sugar exports for another year

New Delhi, Oct 29: The government has extended restrictions on sugar exports till October 31 next year, a move aimed at increasing availability of the commodity in the domestic market.

Earlier, the restrictions were imposed till October 31 this year.

"Restriction on export of sugar (raw, refined, and white sugar) is extended beyond October 31, 2022 till October 31, 2023, or until further orders, whichever is earlier. Other conditions will remain unchanged," the Directorate General of Foreign Trade (DGFT) said in a notification dated October 28.

However, it said these restrictions will not be applicable on sugar being exported to the EU and the US under CXL and TRQ duty concession quotas. A specified amount of sugar is exported to these regions under CXL and TRQ (tariff rate quota).

India has been the highest producer and the second largest exporter of sugar in the world in the current year.